Gerdau to increase export in 2003

Gerdau to increase export in 2003

Brazilian steelmaker Gerdau SA is aiming to export 3.2 million tons of its production in 2003, with an increase of 7.2% compared to 1.9 million tons recorded in 2002. This target is attributed to the increased production at the company's Acominas mill in Brazil, higher international demand and decreased exports from some countries, including Russia and Ukranie. Furthermore, the company expects that the value of the exported goods will amount to $800 million in 2003. Company officials expressed that the group will continue to show interest to the domestic market despite the growth in its exports.